Details of the Transfer

According to Lookonchain a prominent blockchain analytical platform, Mt. Gox has transferred 0.021 BTC, which is worth approximately $1,390, to a new wallet. This transfer is likely an early move as the exchange gears up to begin repaying its creditors.

Progress in Repayment Effort

The final phase of Mt. Gox’s repayment plan is roughly 65% complete, a decade after the exchange filed for bankruptcy. Recent data from Arkham Intelligence reveals two notable transactions in the repayment process.

Firstly on July 5, about 1,545 BTC worth around $98.9 million was sent to the Japanese exchange Bitbank, and 1157.1 BTC ($63.6M) was sent to an unknown counterparty. And secondly, on July 16, about 48,641 BTC worth approx $3.11 billion was transferred to what is believed to be Kraken’s address.